Prurigo Nodularis Treatment Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3849
Prurigo Nodularis Treatment Market size is expected to grow significantly from 2019 to 2025.
Increasing prevalence of prurigo nodularis in developed as well as developing economies will surge the demand for medications and treatments thereby, escalating the industry growth. Constant scratching and friction to skin may result in development of this condition in individuals that have undergone skin biopsy. Moreover, population residing in underdeveloped economies often suffer from chronic skin diseases due to unhygienic lifestyle and have probability of acquiring prurigo nodularis. Similarly, people suffering from eczema also have the tendency to develop prurigo nodularis that should spur the demand prurigo nodularis treatment.
Growing availability of superior quality medications will augment the industry growth during the analysis period. Recently developed ointments, creams and injectables help in providing relief. Moreover, the ingredients in ointments often help in reducing inflammation and irritation caused due to itchy-skin. Hence, increasing availability of superior quality medications and treatments for prurigo nodularis will prove beneficial for the business growth. However, side effects associated with ointments and creams may have an impact on the industry growth. This factor would have short term impact on the industry growth and may diminish with introduction of advanced treatments for prurigo nodularis.
Corticosteroid creams segment is projected to witness substantial growth during the forecast years. Considerable segmental growth can be attributed to the benefits possessed by these creams. These topical corticosteroids controls the spread of fungal skin infection and reduces inflammation to a greater extent. Also, creams when applied externally on body surface provides quick relief as compared to the oral tablets that may require time to show effects. Aforementioned factors should spur the segmental growth.
Retail pharmacies segment should have commendable revenue share in 2018. Patients suffering from prurigo nodularis are often diagnosed and prescribed medications. First line of treatment for patients suffering from prurigo nodularis is always topical or oral medication and patients undergo surgical procedures only if the condition is not under control. Therefore, as patients are not admitted in hospitals, they prefer getting medications from nearest retail pharmacies that enhances the business growth. Also, the retail pharmacies provide discounts on several medications that further boosts the segment growth.
Asia Pacific prurigo nodularis market should have substantial growth in the upcoming years. Developing economies in Asia Pacific region experiences high prevalence of skin infections and diseases as these countries have hygiene issues. In the populous countries such as India, people are more prone to chronic skin conditions that proves beneficial for the industry growth. Moreover, now-a-days, people have started becoming aware regarding availability of better treatments for prurigo nodularis. Above mentioned factors will surge the regional market growth.
Some of the major players operating in the prurigo nodularis treatment industry include Bayer AG, Pfizer Inc., GlaxoSmithKline, Teva Pharmaceutical Industries Ltd, Johnson & Johnson, Merck & Co. Inc., Sanofi SA, Takeda Pharmaceutical Company Limited and others. Key industry players implement several initiatives such as new product launch to acquire larger market share. For instance, GSK has introduced Flutivate skin ointment that is considered as potent topical corticosteroid utilized in adults and children. This ointment has shown high efficacy in treatment of prurigo nodularis. Thus, introduction of such new products will enhance company’s growth.
Prurigo Nodularis Treatment Market By Product, 2014-2025 (USD Million)
- Corticosteroid creams
- Orals corticosteroid
Prurigo Nodularis Treatment Market By Distribution Channel, 2014-2025 (USD Million)
- Hospitals pharmacies
- Retail pharmacies
- Online pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Bayer AG
- Pfizer Inc.
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Ltd,
- Johnson & Johnson
- Merck & Co. Inc.
- Sanofi SA
- Takeda Pharmaceutical Company
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